Jakarta - PT Integration Network Ecosystem, the subsidiary of PT Solusi Sinergi Digital Tbk (WIFI), plans to issue bonds amounting to Rp600 billion.

WIFI President Director Hermansjah Haryono said that the bond issuance plan has a 5-year term with coupons ranging from 8.5-9.5%.

"We plan to use the proceeds from the bond sale to repay bank loan facilities and to fulfill IJE's capital expenditures this year, which will accelerate the completion of the IJE fiber optic network development project and increase revenue and profit potential, as well as improve cash flow conditions, he said in information disclosure in Jakarta on Tuesday (18/1).

The value of the bond issuance reached 145.20% of WIFI's equity of Rp.413.22 billion based on the audited financial report as of December 31, 2020.

In July 2019, WIFI acquired 90% of IJE's shares from previous shareholders.

In November 2019, KAI (Persero) and IJE agreed to utilize KA